COA breaks through the £50m barrier   20th August 2007 UK business applications software provider COA Solutions Ltd (CedarOpenAccounts) today reported strong financial results for the year ending March 31, 2007, with turnover of £50.5 million and earnings before interest, taxes and depreciation (EBITDA) of £10.01 million. During the year the Group made successful acquisitions of Version One and BI Inform expanding COA's presence in two key growth business software markets - document management and business intelligence. Software license orders grew by 12.6 per cent to £13.4 million, representing 26 per cent of total revenue and maintenance revenues grew to £20.9 million, representing 42 per cent of total revenue More than 80 new customer wins were made across all of COA's target markets and 2,000 customers were gained through acquisitions. Mark Thompson, managing director of COA said: “COA is justly proud of its successes over the past financial year with company targets and commercial objectives met and in many cases surpassed. The fiercely competitive nature of the business applications software market and its continued consolidation make these achievements highly commendable and prove COA's capabilities and vitality. It also shows the UK market strongly endorses our strategy of focus on service industries.”
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